What Is A Diamond Appraisal and How Can I Get One?

Last updated: July 18, 2022
Diamond Appraisal

Looking to Know Your Diamond's Value?

Imagine you have an old diamond or diamonds sitting around. Maybe it’s from an engagement ring, a wedding ring, or a pair of stud earrings. You know diamonds are valuable, but you aren’t sure exactly how much your diamond is worth.

A diamond appraisal is a process designed to help you know the value of your diamond in a specific situation or context. It can be very helpful when you are trying to get your diamond insured, figure out its worth for a divorce settlement, or even if you decide you want to sell it.

In this article, we will look at what a diamond appraisal is, why it’s useful, and the different types available for you. We will also distinguish between a diamond appraisal and an official professional diamond evaluation or grading report.


When it comes to a diamond’s value, some terms are often misused and their meaning is not always clear. Most people think that a diamond appraisal reveals the diamond’s absolute value that all and everyone must abide by.

But actually, diamond appraisals are carried out for a specific purpose, such as for insurance or tax reasons. In general, a diamond appraisal is simply a document that details the physical characteristics of a diamond, makes an evaluation of its overall quality, and assigns a dollar value to it in that specific context.

Diamond appraisals are carried out by people with expertise in diamonds. They must have a wide and deep knowledge of diamond characteristics and their value on the market.

Who Appraises Diamonds?

Often the appraiser will be a gemologist officially certified by a professional organization such as the Gemological Institute of America (GIA) but this isn’t required. It is generally a good idea to ask your appraiser for their credentials to make sure they are qualified to do this kind of work.

Diamonds can be more complex than other types of jewelry. So, evaluating a diamond can be different from getting a generic jewelry or gemstone appraisal.

Also, a diamond appraiser should be transparent as to their process. They should provide you with an explanation of all measurements they will take and any lab work they intend to perform.

Reasons To Get Diamonds Appraised

There are dozens of types of diamond appraisals to suit different purposes. This means that the value stated in the appraisal will only be valid in that specific context. It doesn’t reflect the unalterable value of the stone.

The most common type of diamond appraisal is an appraisal done for insurance purposes. In order to insure a diamond you must have a good estimate of what it is worth. That’s what the appraisal is for.

In the event that something happens to your diamond, such as loss or a theft, your diamond appraisal will prove to the insurance company how much your diamond is worth. The amount of your appraisal will also affect how much you pay to the insurer to cover the diamond in case of loss.

Other reasons to appraise a diamond include understanding how much inherited jewelry is worth, appraisals for legal proceedings such as a divorce or an ownership claim, for tax purposes, or even to sell your diamond.

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Three Categories of Diamond Appraisals

There are three main categories of diamond appraisals you should be aware of. These are replacement value, fair market value, and comparable replacement value appraisals. Let’s look at each one of these different types briefly.

A replacement value appraisal tells you how much a diamond is worth on the market in case of loss or theft (or any other reason a diamond would need to be replaced). This is the most common type of jewelry appraisal. Usually, you get this for the sake of an insurance claim in case of an event which entitles you to a claim on a lost diamond.

A fair market value appraisal tells you the likely amount you will receive from a stone if you sell your diamond on the market. It also can tell you the taxable amount of a diamond ring or other piece of diamond jewelry.

Finally, a comparable replacement value appraisal is for special diamonds that have historical value or are unique in some other way. The difference between this and a regular replacement value appraisal is that such unique diamonds generally cannot be replaced due to their special qualities or value. However, if you happen to own the Kohinoor Diamond, please try not to lose it, because that will definitely make you sad.


While diamond appraisal is the process of assigning monetary value to a diamond for a specific purpose (insurance, tax, divorce, etc), diamond grading is the thorough evaluation of a diamond and its attributes: carat, cut, color and clarity (the “four C’s) and more.

Diamond gradings are carried out in renowned gemological laboratories like GIA and GSI by certified professionals. The market assigns value to diamonds according to the grading done by these official labs.

If you know your stone’s 4 C’s, you can get an estimated market value. But ultimately, a diamond grading report is the most transparent, accurate and objective tool you need to determine how the market values your diamond at a specific moment in time.

Diamond Appraisals Versus Diamond Receipts

When you purchase a diamond from a retail outlet, you will get a receipt for your purchase just like when you buy any other good or service. This receipt will tell you exactly how much you paid for the diamond, which was the retail price of the diamond at the time of purchase.

A sales receipt may give you a tiny bit of information about your diamond. This could include its cut, its setting, or its size, in addition to the retail price and any taxes paid. However, this is a scant amount of information compared to the level of detail you will find in a diamond appraisal or grading report.

Receipts for diamond purchases are great as a historical record to tell someone how much you initially paid for a diamond. However, it is not an accurate description of what a diamond is currently worth or about the quality of the diamond itself. So, a receipt is never a replacement for a diamond appraisal.


If you’re looking to get your diamond appraised for a specific purpose, like insurance or tax, the most obvious place to begin is at your local jeweler. Local jewelers should have the tools and the know-how to carry out a diamond appraisal accurately.

But if you’re looking to sell your diamond, you might consider getting a more objective grading from one of the following institutes worldwide:

  • GIA: Gemological Institute of America
  • EGL: European Gemological Laboratory
  • IGI: International Gemological Institute
  • AGS: American Gem Society

When you decide to sell a diamond with Worthy, we provide GIA and GSI grading reports, at no cost to you. A proper diamond grading is vital to us and we only trust the very best in the business to carry them out.


Diamond value is an interesting question and the answer is not found in the price tag. While there are a couple of ways to get a diamond evaluated it is most important that whoever is examining your diamond is fully qualified and objective.

  1. Cleaning.This is the first step in a diamond evaluation because in order to see your diamond clearly and assess it accurately, the evaluator must polish away any superficial flaws.
  2. General Condition Overview.At this stage, the certified professional simply looks at your diamond without any tools to see if there are any scratches and to verify that it is in fact a real diamond.
  3. Measurement and the 4 C's.This refers to the 4 factors that go into evaluating a diamond. They break down to carat, cut, color, and clarity.
  4. Description.At the end of the diamond grading process, the evaluator writes a detailed summary based on their findings. Some descriptions include an estimated market value, however here at Worthy, we leave the market value to the market itself, with our live auction platform.


As we have said, there are many different reasons you might need a diamond appraisal. But if you are looking to sell your diamond, an official diamond evaluation with a grading report is the better way to understand your diamond’s true market value.

When you choose Worthy to help you sell your diamond, we provide a complimentary diamond grading report done by a leading lab like GIA. Not only that, but we include free shipping and insurance cover for your diamond throughout the entire process.

But the most important benefit of selling your engagement ring or other diamonds with Worthy is that we will work get you the highest price in exchange for your valuable. That’s why so many people looking to sell their jewelry trust over local jewelry stores, consignment shops, pawn shops, and other online markets.

If you’re interested in selling your diamond, get started now by clicking below submitting your diamond’s description to Worthy. Within a few weeks, you might be able to put the money exchanged for your diamond towards your savings, paying down debt, investing, a shopping spree, a new car or the luxury vacation of your dreams.

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